Munich Re: Oddo still a seller after H1 results
(CercleFinance.com) - The day after the Bavarian reinsurer Munich Re's H1 results, Oddo BHF reisntates its "reduce" rating on the share, along with its target price of 225 euros, considering that other stocks offer more attractive upside potential.
While it acknowledges that the solid H1 net result demonstrates the group's solidity, the analyst says that he still expects a Covid charge in the second half of the year, while the stock is still trading at a premium to its sector.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
While it acknowledges that the solid H1 net result demonstrates the group's solidity, the analyst says that he still expects a Covid charge in the second half of the year, while the stock is still trading at a premium to its sector.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.